North Energy ASA ("North Energy" or "Company") recorded a comprehensive income of NOK 9.6 million in the fourth quarter of 2024 compared to a comprehensive loss of NOK 21.0 million in the same quarter last year. The income reported this quarter is mostly driven by increase in the value of financial investments and income from associated companies. For the full year 2024 North Energy recorded a comprehensive income of NOK 58.1 million compared to a comprehensive income last year of NOK 24.6 million.
At the end of the fourth quarter 2024, North Energy's Net Asset Value (NAV) was NOK 603.3 million, representing a 2.0% increase from last quarter and, adjusted for dividends paid, a 54.4% increase from the same quarter last year.
In line with the Company’s dividend policy, which states that “The Company intends to distribute an annual dividend that approximates 3% of year end Net Asset Value”, the Board intends to propose a dividend of NOK 0.15 per share for 2024.
The report for the fourth quarter 2024 is attached and available on the Company's website, www.northenergy.no.
DISCLOSURE REGULATION
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
CONTACTS
Rune Damm, CFO, (+47) 4166 6685, rune.damm@northenergy.no